Summit Global Investments Purchases 575 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Summit Global Investments grew its position in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,993 shares of the bank’s stock after buying an additional 575 shares during the period. Summit Global Investments’ holdings in Canadian Imperial Bank of Commerce were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in Canadian Imperial Bank of Commerce by 732.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 358 shares of the bank’s stock worth $40,000 after buying an additional 315 shares during the period. CWM LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $46,000. Elmwood Wealth Management Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $81,000. Liberty Wealth Management LLC increased its stake in Canadian Imperial Bank of Commerce by 31.8% during the 3rd quarter. Liberty Wealth Management LLC now owns 899 shares of the bank’s stock worth $120,000 after acquiring an additional 217 shares during the period. Finally, Atlas Capital Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 849.5% in the 4th quarter. Atlas Capital Advisors LLC now owns 1,035 shares of the bank’s stock valued at $121,000 after acquiring an additional 926 shares in the last quarter. Institutional investors and hedge funds own 43.66% of the company’s stock.

CM stock opened at $53.74 on Friday. The firm has a market cap of $48.50 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 2.82 and a beta of 1.02. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $58.50 and a 200-day moving average price of $59.98. Canadian Imperial Bank of Commerce has a 1-year low of $51.14 and a 1-year high of $66.24.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its quarterly earnings data on Thursday, May 26th. The bank reported $1.77 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.15). The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.32 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.72% and a net margin of 28.15%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $2.85 EPS. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 5.37 earnings per share for the current year.

A number of equities research analysts have issued reports on CM shares. Stifel Nicolaus reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$87.00 to C$86.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. StockNews.com began coverage on Canadian Imperial Bank of Commerce in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Stifel Europe upped their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$87.00 and gave the stock a “hold” rating in a research report on Tuesday, March 1st. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$83.00 to C$91.00 in a research report on Friday, February 18th. Finally, Credit Suisse Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 20th. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Buy” and an average target price of $82.42.

Canadian Imperial Bank of Commerce Profile (Get Rating)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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